The concept of “single-serve” wine isn’t something that would strike someone’s mind unless they are passionate about wine. Founder Andrew McCurray was a passionate individual who wanted everyone to have access to wine, even when they are on the go.
Working on the idea, Andrew created his business, Zipz Wine, whose main USP is the fact that it is a “single-serve” wine that’s available in attractive packaging.
With their appearance on Shark Tank and the kind of unique product model they had, the brand managed to secure one of the biggest deals on Shark Tank. They are currently valued at $1 million.
Contents
| Business details: | Single-serve wine |
| Founders name: | Andrew McCurray |
| Founded in: | 2012 |
| Location (Country): | New Brunswick, New Jersey |
| Investment Asked by Company: | $2.5 million for 10% equity |
| Sharks on board (Investors): | Kevin O’Leary |
| Accepted Deals: | $2.5 million for 10% equity + Option to Buy additional Equity In the Future |
| Shark Tank Episode: | Season 06 Episode 13 |
| Net Worth | $1 million |
| Business Status: | Active |
| Social Media | Instagram |
| Last Updated: | June 19, 2024 |
Zipz Wine is founded by Andrew McCurray, who hails from Scarsdale, New York. As for his educational background, Andrew graduated from the University of Massachusetts Amherst with a degree in business, management, and marketing.
After acquiring his education, Andrew started working for Zachys Fine Wine, where he currently works as the vice president of the company.
Andrew, alongside his company partner, J. Henry Scott, created and launched the idea behind Zipz Wine. The company’s other founder, Scott graduated from the established and reputed Rutgers University.
Being from two different backgrounds, Andrew and Scott’s meeting was a chance. They met in New York and became quick acquaintances.
However, later, Andrew shared his business idea surrounding Zipz Wine with Scott, who found the idea innovative and wanted to work with Andrew on the project. To bring their vision to life, the founders partnered with Fetzer Vineyards.
Following a few trials and errors, they managed to launch their company in 2012. But, the initial launch received a lot of criticism, especially due to the packaging. That was when Scott redesigned the “dual function coaster life” for Zipz Wine.
Before appearing on Shark Tank, Zipz Wine was already a flourishing business with $8.5 million in investment. However, both Andrew and Scott wanted to take their product on Shark Tank to acquire some help from the professionals.
Scott didn’t appear on the show but Andrew represented the company, pitching for $2.5 million for 10% equity. Despite the unique concept, most of the Sharks weren’t convinced by the product’s packaging.
In the end, Kevin O’Leary agreed to the pitch that Andrew asked for. He also ended up buying an additional 10% stake in the company.
Zipz Wine managed to secure an attractive deal on Shark Tank, Despite their achievement on the show, the company couldn’t survive long in the market.
After their foray on the show, the company decided to adopt a B2B model instead of a B2C model. This decision was taken with the hope of attracting big names in the wine industry. However, things didn’t go as planned and the company stopped posting on Instagram in 2016. Even the company’s Facebook page is not active and the official site is shut down. It seems like Zipz Wine failed to beat its competitors, struggling to survive in the market.
Despite the huge deal and the investments that backed up the company, Zipz Wine struggled a lot to stay afloat. Their biggest hurdle came when they couldn’t keep up with the ongoing competition from some of the already established big brands in the scene.
Kevin O’Leary was able to utilize his influence and help Zipz Wine land a partnership with Arctic Beverages, which got their product out to 1200+ locations.
However, despite all these tries, the brand didn’t pull through and was making roughly around $600,000 annually. It is reported that the brand is currently focused on improving its packaging. As of 2024, they have a valuation of $1 million.
Andrew McCurry and J. Henry Scott met in New York and later, Andrew shared his business idea for Zipz Wine with Scott. Impressed by the innovation, Scott decided to partner with Andrew to bring the idea to life. They also collaborated with Fetzer Vineyards.
When Zipz Wine appeared on Shark Tank, Andrew represented the company and pitched for $2.5 million for 10% equity. Despite the unique concept, most of the Sharks were not convinced by the product’s packaging.
Kevin O’Leary made a deal with Zipz Wine on Shark Tank, and even bought an additional 10% stake in the company.
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